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5 <br />G. "Federal Program Requirements" means documents issued by the U.S. Department of <br />Housing and Urban Development describing the regulations and requirements of the <br />HOME Program in order for fiords to be awarded to pazticipating ,jurisdictions as <br />authorized in the Act.. <br />Section II. Purpose <br />This Agreement is to form a Consortium of units of general local government within Orange <br />County for designation as a Federal I-ILJD Consortium under the Act and the Federal Program <br />Requirements of the Act. The said Consortium is known and hereinafter may be referred to as <br />the Orange County HOME Consortium (hereinafter "OHC"). <br />Section III. Agreement. <br />A. The term of this Agreement begins with the effective date of.Tuly 1, 2005 and ends June <br />30, 2008, Subject to the requirements of Paragraph D of this Section, the County and <br />Towns agree that the terms of this Agreement cover the period necessary to carry out all <br />activities that will be funded from funds awazded during three federal fiscal years (2006, <br />2007, 2008) and that all members of OHC will remain in OHC for the entire period. <br />The Agreement remains in effect until the HOME funds from each of the federal fiscal <br />years of the qualification period are closed out pursuant to 24 CFR 92.507., <br />B, The OHC Program Review Committee is authorized to provide policy oversight for <br />planning, operations, and evaluation of OHC and the HOME Program. The Manager or <br />his/her designee from each participating unit of local government and one (1) elected <br />official from each,jurisdiction shall be a member.. The OHC Program Review Committee <br />shall prepare a proposed HOME program design each year and consortium program <br />application to HUD, in compliance with the Act, the Regulations, and the Federal <br />Program Requirements, including reallocation of any funds from previous years not <br />expended or any repayments or other program income consistent with this Section. Each <br />year's proposed HOME program design and the consortium program application should <br />be consistent with the Consolidated Plan. Each yeaz's program design shall be subject to <br />the approval of each consortium member's elected board. The proposed HOME program <br />design will defne a strategy in sufficient detail to accommodate the collective and <br />individual needs and priorities of the County and Towns. <br />The OHC Program Review Committee shall also review the Consolidated Plan Update <br />each year and any amendments needed, and present these changes and amendments to <br />each consortium member's elected board for approval and submission to HUD and to the <br />State, <br />All consortium members must approve the HOME program design and any Consolidated <br />Plan amendments prior to their submission to I-lUL). <br />5 <br />